What Fueled The Previous Growth In The Prototyping Software Market?
The prototyping software market has seen considerable growth due to a variety of factors.
• The prototyping software market has grown exponentially in recent years. It will grow from $1.2 billion in 2024 to $1.48 billion in 2025, with a compound annual growth rate (CAGR) of 23.7%.
The growth is attributed to the demand for rapid product development, the rise of 3D printing, and the adoption of agile development methodologies.
How Does the Forecast Look for the Prototyping Software Market?
The prototyping software market is expected to maintain its strong growth trajectory in upcoming years.
• The prototyping software market is expected to surge to $3.42 billion by 2029, growing at a CAGR of 23.3%.
This expansion is attributed to the shift to cloud-based solutions, low-code/no-code platforms, eco-friendly materials, and the influence of IoT devices. Major trends include augmented reality-driven experiences, democratization of tools for non-technical users, and hybrid prototyping approaches.
What Are The Leading Drivers Of Growth In The Prototyping Software Market?
The prototyping software market's growth is anticipated to be propelled forward by the accelerated adoption of the Internet of Things (IoT). The IoT is a network of interconnected devices, objects, and systems that communicate and exchange data over the internet without human manpower involved. This swift IoT adoption is made possible through technological advancements, the fourth industrial revolution, and digital transformation, along with regulatory support and standards. Integrating IoT into prototyping software aids in the design and development process of IoT applications, offering tools for simulation of interactions, functionality tests, design iteration, data visualization, and enhancement of user experiences. For instance, the Health Sector Cybersecurity Coordination Center (HC3), an arm of the United States Department of Health and Human Services' Cybersecurity Program, reported in August 2022 that around 7 billion devices were connected through IoT in 2022, with a projected increase of approximately 20 billion more devices by 2025. Therefore, the upward trend of IoT and the proliferation of connected devices are driving forces in the prototyping software market.
How Are The Segments Defined Within The Global Prototyping Software Market?
The prototyping software market covered in this report is segmented –
1) By Type: Throw Away Prototyping, Evolutionary Prototyping, Operational Prototyping
2) By Deployment Type: Cloud-Based, Web-Based
3) By Application: Large Enterprises, Small And Midsize Enterprises (SMEs), Other Applications
Subsegments:
1) By Throw Away Prototyping: Low-Fidelity Prototyping, High-Fidelity Prototyping
2) By Evolutionary Prototyping: Incremental Prototyping, Spiral Prototyping, Rapid Prototyping
3) By Operational Prototyping: Full-Scale Operational Prototyping, Partial Operational Prototyping
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Which Emerging Market Trends Are Altering The Prototyping Software Industry?
Key players in the prototyping software market are increasingly focusing on the creation of integrated emulation and prototyping systems, like the ZeBu EP1 emulation system, to strengthen their market position. The ZeBu EP1 system is a unified hardware platform blending both emulation and prototyping functions, providing valuable benefits for SoC validation and preliminary software creation. For example, in September 2022, Synopsys Inc., a firm based in the United States that offers electronic design automation (EDA), introduced the ZeBu EP1 emulation system. This platform boasts a unified hardware system that blends functions and offers the flexibility to modify capacity as required. Its technological progress provides superior performance, faster compilation times, and better flexibility, greatly impacting the prototyping software market by streamlining creation, speeding up project timelines, and enabling teams to dynamically adapt.
Who Are the Key Players In The Prototyping Software Market?
Major companies operating in the prototyping software market are:
• Adobe Inc.
• VVDN Technologies
• Stratasys Ltd.
• InVision
• Arduino
• KeyShot
• iRise
• Sketch B.V.
• 3D Hubs
• Framer
• THREEKIT INC.
• UXPin
• Marvel
• Highlight
• Boston Micro Fabrication (BMF)
• Blender
• Balsamiq
• Pidoco GmbH
• Proto.io
• Azul 3D
• Kaedim Inc.
• Axure
• Fluid UI
• MindsDB
• ShapesXR
• Ethereal Machines
• Moqups
What Is The Most Dominant Region In The Prototyping Software Market?
North America was the largest region in the prototyping software market in 2023. The regions covered in the prototyping software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
